Is there a need to create a new will if the willed assets are sold off to purchase new assets?

She had bequeathed the amount in your favor by a Will, wheras she had utilised the amount herself during her lifetime hence the Will becomes reduntant 

You cannot claim any right over the property which was purchased out of the money that was once upon a time bequeathed in a Will 

If at all you want to claim any rights over the property, you can ask her to transfer the same to your name by executing a registered settlenment deed with a condition that she will  have life interest in the property to enjoy the income  also out of it

Thank you sir for the guidance.

The will executed by testator is meaningless and become redundant since the property (FD) bequeathed do not exist after it has been encashed. 

She has to execute a fresh "will" to exclude FD and include new property stated to have been purchased utelising funds of FD.

Yes, the will executed by your mother in favour of you by which F.D has been bequeathed to you shall become useless as soon as F.D is encased so it will be better that your mother may execute fresh will after being encasement of F.D

Dear Adi,

Thank you for your query! I am Aadil and I will try to answer your question!

The laws regarding wills are governed by the Indian Succession Act of 1925. It states that any person may create a will as long as they are in a state to understand the consequences of their actions. A property mentioned in a will can be bequeathed only if it belongs to the testator.

Here, if the money mentioned in the will is used off by the testator, then such money cannot be bequeathed to the beneficiary mentioned in the will as such money does not exist anymore. The fact that you spent your money on the property is irrelevant if the will does not specifically mention that the property be bequeathed to you. In such a case, it may as well be considered that such a will does not exist and that the testator died intestate. You may inherit the property this way as you are a legal heir but if other legal heirs also exist, which is quite probable, there is no guarantee that you may inherit this specific property. Therefore it would be better to create a new will that specifically mentions this property.

I hope this helps. Thank you for your time and patience!

Regards,

Aadil